ME News reports that on November 1 (UTC+8), the restaking protocol Swell tweeted that withdrawals and deposits for swETH and rswETH have been reopened, and the exchange rate has now been restored to the correct level. Users who deposited at the inflated rate will be compensated within the coming week.
Foresight News previously reported that Swell tweeted it had become aware of reports of suspicious activity involving the swETH and rswETH contracts, and is currently investigating with security partners, having temporarily suspended deposits and withdrawals for swETH and rswETH. (Source: Foresight News)
Swell Resumes swETH and rswETH Deposits and Withdrawals, Will Compensate Users
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Summary
On November 1, 2026 (UTC+8), Swell announced the resumption of deposits and withdrawals for swETH and rswETH following a protocol update. Exchange rates have been corrected, and affected users will receive compensation within one week. The suspension was initiated after Swell detected suspicious on-chain activity and collaborated with security partners. This protocol update represents a key step in restoring normal operations.
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